When planning your production, sooner or later you will face the question - Make or Buy? Should you produce a service or product yourself or buy it from an external supplier? In order for you to answer this question, there are some important factors to consider.
1. Time
Quick procurement is an important consideration when deciding between in-house manufacturing or outsourcing. In-house production may be quicker in case of approval procedures or long delivery and transport times. However, purchasing a finished product is usually quicker.
2. Costs
One of the most important points of all is the cost. You should consider purchasing costs, as well as